TECK - Copper climbs near 10-year highs as bullish mood returns
Copper prices (HG1:COM) are resuming their rise towards 10-year highs hit last month, lifted by the U.S. stimulus bill, benign U.S. inflation data and better than expected Chinese lending numbers.LME benchmark copper recently was +2.1% at $9,048/metric ton, not far below the $9,617/mt peak reached in February and within striking distance of the all-time peak of $10,190/mt set in 2011.ETFs: [[COPX]], [[CPER]], [[JJCTF]], [[JJC]]Shares of global miners are off to a strong start: [[FCX]] +5.7%, [[SCCO]] +2.3%, [[TECK]] +3.6%, [[TRQ]] +2.8%, [[VALE]] +3.5%, [[RIO]] +1.5%, [[BHP]] +1%.The chairman of Chinese metals trader Maike Group predicts copper will surge to an all-time high over the next 12 months due to strong demand from China's clean energy drive and years of under-investment in global mine supply.But Julius Baer analyst Carsten Menke thinks demand expectations may be too rosy, especially as China reins in spending on infrastructure and demographic change begins to reduce
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Copper climbs near 10-year highs as bullish mood returns